Barclays Sticks to Its Buy Rating for Revance Therapeutics (RVNC)

Barclays analyst Balaji Prasad maintained a Buy rating on Revance Therapeutics (RVNC – Research Report) today and set a price target of $10.00. The company’s shares closed last Friday at $3.32.

According to TipRanks, Prasad is a 4-star analyst with an average return of 3.5% and a 44.78% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Amneal Pharmaceuticals, Zoetis, and Revance Therapeutics.

Currently, the analyst consensus on Revance Therapeutics is a Moderate Buy with an average price target of $14.10, which is a 324.70% upside from current levels. In a report released on May 10, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.00 price target.

Based on Revance Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $69.8 million and a GAAP net loss of $55.7 million. In comparison, last year the company earned a revenue of $49.92 million and had a GAAP net loss of $145.95 million

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RVNC in relation to earlier this year.

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Revance Therapeutics (RVNC) Company Description:

Revance Therapeutics, Inc. is a clinical stage biotechnology company. It engages in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic applications. The firm focuses on production of daxibotulinumtoxinA, a botulinum toxin, for aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company was founded by Jacob M. Waugh and L. Daniel Browne on August 10, 1999 and is headquartered in Newark, CA.